Signs Self-Employment Isn’t Right for You

Are you tired of working long eight-hour shifts from Monday to Friday? Getting fed up with your boss asking you to do some overtime to meet deadlines? Do you want to have a flexible schedule so that you can spend more time with your family? Do you think you can make your own decisions and be the boss of your own company?

If the answer to these questions is yes, then maybe you are one of the millions of employees around the world thinking about hitting the road to self-employment. But before you think about handing in your resignation and working on a start-up, there is one very important fact that you should know:

Self-employment is not for everyone. Just because self-employment gives you more freedom does not mean that it will be easier than an office job. For every successful self-employment story, there are probably a lot more failures. Think really hard about before choosing self-employment over a stable office job.

Here are some signs that self-employment is not the best option for you.

You have too many ideas

Having the knowledge and creativity to think of unique and marketable ideas can be both a blessing and a curse. One day you’re coming up with a nice cupcake recipe for the bakeshop you want to open, the next day you’re looking to get some capital to fund your new tech start-up.

Coming up with a really good idea is one thing; following through with it is another. Many self-employed individuals generate profitable ideas but fail to go forward with these ideas till they become successful. Often times they go to after some setbacks.

Do not be discouraged by a few minor problems that you can easily solve. If you think your idea will bring you the money, plan very well and go for it. If you cannot find a good enough idea to stick to, then don’t intend to leave your day job.

You think that employment is for losers

Sure, you hated working an eight-hour job at the office, but don’t think that employment does not have any value. Use what you have learned during your employment instead of throwing it away like garbage.

This is even more important if you plan on entering the industry of your employer. Let’s say you want to open up your own restaurant and you are an employee at the finest Italian restaurant in the city.

Take some time to know the business; observe operations and procedures that you one day might be able to use at your own restaurant. Some say experience is the best teacher. What better way to learn about an industry than working in it for a year or two? A lot of people don’t realize it, but employment is actually great preparation for self-employment.

You have a tendency to slack off

Self-employment is really hard work. You have to be dedicated and passionate about what you pursue if you want to succeed. If you think that you do not have the energy and willpower to make things happen, then maybe self-employment is out of the picture.

Remember that you are the boss who will make the decisions and should be the most responsible person in your own company. Always stay productive, right from the very beginning. The words lazy, inept, and slacker should not be in your vocabulary. Contrary to popular belief, billionaires don’t just sit around the mansion and “live the life.”

Even Bill Gates spent long hours tinkering with programs and computers before he became a tech industry success story. Self-employment is not for you if you think that being your own boss will be easier than going to the office every day.

Signs Self-Employment Isn’t Right for You

You panic when the going gets tough

The path of self-employment is covered in successes and even more defeats. You will encounter problems no matter what happens. Whether or not it’s your fault or not, things will not always go your way.

The important thing to remember is to maintain composure and to always get back on track after falling down. Things almost never go well when the person in charge begins to panic in times of crisis. You are the boss when you are self-employed and are responsible not only for yourself but also for other employees if ever your start-up really gets going.

You cannot afford to panic and make bad decisions during times of trouble. You must remain calm, composed, and focused during good times and bad when you are self-employed.

You have no control over your personal life

Going into self-employment not only affects you but also every single person who is dependent on you. Be sure that everyone who might be affected by your decision to enter self-employment is on board with your plan.

It will be very difficult to have to deal with personal problems and business problems at the same time. Sit down and talk to your family before you decide on anything, and make sure that everyone is comfortable with the situation.

You are responsible not only for your company but also for your family. It would also be nice to have friends and family supporting you when you need it the most. Also, make sure that you can take care of the people that depend on you if every your plans for self-employment don’t turn out so well.

Recommend0 recommendationsPublished in Corporate Life, Entrepreneurship, Success Mindset
Previous article4 Social Norms Around Credit Card Rewards You Should Learn
Next articlePositive Living: Declutter Your Digital Life
Founder @ The New Savvy
Anna Haotanto is the Advisor (former CEO) of The New Savvy. She is currently the COO of ABZD Capital and the CMO of Gourmet Food Holdings, an investment firm focusing on opportunities in the global F&B industry. She is part of the founding committee of the Singapore FinTech Association and heads the Women In FinTech and Partnership Committee. Anna is the President of the Singapore Management University Women Alumni. Anna invests and sits on the board of a few startups. Anna is also part of the Singapore Chinese Chamber of Commerce & Industry Career Women’s Group executive committee. Anna’s story is featured on Millionaire Minds on Channel NewsAsia. She hosts TV shows and events, namely for Channel NewsAsia’s “The Millennial Investor” and “Challenge Tomorrow”, a FinTech documentary. Anna was awarded “Her Times Youth Award” at the Rising50 Women Empowerment Gala, organised by the Indonesian Embassy of Singapore. The award was presented by His Excellency Ngurah Swajaya. She was also awarded Founder of the Year for ASEAN Rice Bowl Startup Awards. She was also awarded the Women Empowerment Award by the Asian Business & Social Forum. Anna has been awarded LinkedIn Power Profiles for founders (2018, 2017), Tatler Gen T, The Peak’s Trailblazers under 40 and a nominee for the Women of The Future award by Aviva


Please enter your comment!
Please enter your name here